Statement
May 15 2006 - 3:03AM
UK Regulatory
RNS Number:9414C
Cambridge Antibody Tech Group PLC
15 May 2006
For immediate release
14 May 2006
Cambridge Antibody Technology Group plc ("CAT")
Statement regarding press speculation
The Directors of CAT have noted today's press speculation. The company confirms
that it is currently in discussions with AstraZeneca PLC which may or may not
lead to an offer for the company.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, CAT
confirms that it has 53,195,485 ordinary shares of 10p each in issue (including
those represented by American Depositary Shares) ("CAT Shares").
The ISIN reference number for the CAT Shares is GB0001662252 and for the
American Depositary Shares of CAT is US1321481079.
Each American Depositary Share of CAT represents one CAT Share.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"Code"), if any person is, or becomes, "interested" (directly or indirectly) in
1% or more of any class of "relevant securities" of Cambridge Antibody
Technology Group plc, all "dealings" in any "relevant securities" of that
company (including by means of an option in respect of, or a derivative
referenced to, any such "relevant securities") must be publicly disclosed by no
later than 3.30 p.m. (London time) on the London business day following the date
of the relevant transaction. This requirement will continue until the date on
which the offer becomes, or is declared, unconditional as to acceptances, lapses
or it otherwise withdrawn or on which the "offer period" otherwise ends. If two
or more persons act together pursuant to an agreement or understanding, whether
formal or informal, to acquire an "interest" in "relevant securities" of
Cambridge Antibody Technology Group plc, they will be deemed to be a single
person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of Cambridge Antibody Technology Group plc by Cambridge Antibody
Technology Group plc or by AstraZenca PLC, or by any of their respective
"associates", must be disclosed by no later than 12.00 noon (London time) on the
London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.
Additional Information
No offer has commenced and this press announcement is neither an offer to
purchase nor a solicitation of an offer to sell securities. If an offer is
commenced a tender offer statement and related documents containing important
information about the offer would be filed with the U.S. Securities and Exchange
Commission (the "SEC") and investors should read any such tender offer statement
and the related documents that would be filed with the SEC before making any
investment decisions regarding any such offer. Once filed these documents would
be available at no charge on the SEC's website at www.sec.gov.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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